EUR/USD keeps 1.10 post-German data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The common currency keeps its gains vs. the dollar today, with EUR/USD now hovering over the 1.1030 region following German releases.

    EUR/USD focus on risk, EMU data

    Spot kept the composure after final German inflation figures tracked by the broader HICP have matched the preliminary figures during January, contracting 1.0% MoM and rising 0.4% over the last twelve months. Previously, and still in Germany, Consumer Confidence gauged by Gfk has come in at 9.5 for the month of March vs. 9.3 expected.

    The pair remains within a narrow range after rebounding from yesterday’s mid-1.0900s, with gains capped around 1.1040 ahead of EMU’s credit figures and CPI.

    EUR/USD levels to watch

    The pair is now up 0.14% at 1.1023 facing the next hurdle at 1.1048 (200-day sma) followed by 1.1112 (20-day sma) and finally 1.1220 (23.6% Fibo of December up-move). On the flip side, a break below 1.0974 (55-day sma) would expose 1.0955 (low Feb.24) and finally 1.0867 (76.4% Fibo of December up-move).
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